Course: Diploma in Personal Insolvency (with a Certificate in Personal Insolvency Practice) recognised by the Insolvency Service of Ireland
Start date: 13 February 2017
Course Delivery: Classroom-based
Duration: 5 days
CPD Hours: Recognised by The Institute of Banking and LIA for CPD Purposes
Course fee: €995
The Personal Insolvency Act 2012 constitutes a major shift in Irish policy relating to insolvency, and implements a new scheme to ameliorate the difficulties suffered by debtors in discharging their indebtedness. This new certificate programme, delivered by City Colleges provides participants with the skills and knowledge necessary to become personal insolvency practitioners.
On completion of the programme the Personal Insolvency Practitioner will be equipped will an in-depth knowledge of insolvency law in Ireland which will enable the Personal Insolvency Practitioner to act for and advise debtors in the personal insolvency procedure.
This programme is designed for suitably qualified applicants from a variety of backgrounds, including barristers, solicitors, accountants and qualified financial advisors who wish to become Personal Insolvency Practitioners. The certification programme is versatile and modules are tailored to ensure all areas of the insolvency process are covered in depth. The City Colleges certification programme provides specialist modules in the areas of finance, law, legal procedure and commerce. Successful participants will be in a position to fully meet the criteria for practice required by the ISI.
The Course is structured to ensure that participants from different fields of employment will have the opportunity to qualify as a Personal Insolvency Practitioner.
Each course comprises of 40 contact hours. Lectures are delivered from South Great George’s Street in Dublin 2. Please note that attendance in person is compulsory in order to satisfy the requirements of certification. A two-hour open book exam will take place on at the end of the course. The course fee (including material and exam fees) is €995.
The Course is divided into eight sessions with a number of modules per session. The proposed modules will cover the following topics:
- Session 1: Introduction to Personal Insolvency
- Session 2: Financial Requirements of the Personal Insolvency Practitioner
- Session 3: Practical Aspects of Personal Insolvency Practitioner’s Role (Part I)
- Session 4: Practical Aspects of Personal Insolvency Practitioner’s Role (Part II)
- Session 5: Legal and Commercial Components of the Personal Insolvency Practitioner’s Role
- Session 6: Creating a Personal Insolvency Practitioner Practice
- Session 7: Additional Matters affecting the Personal Insolvency Practitioner
- Session 8: Case Studies and Exam Preparation
Lecturers delivering this programme are leading practitioners in their respective fields who have significant experience and expertise in dealing with the issues raised by personal insolvency. Modules will be delivered by practising barristers, solicitors, accountants, psychologists and economists who are accomplished in their respective areas of practice.
Attendance in person in compulsory. Certification as a Personal Insolvency Practitioner requires completion of the requisite modules and successful completion of a two-hour written examination.
On completion of the City Colleges Personal Insolvency Practitioner Certificate participants will be able to:
- Demonstrate a comprehensive understanding of the Personal Insolvency Act 2012 and the role it will play in the development of insolvency practice in Ireland.
- Show a detailed knowledge of the role of the Personal Insolvency Practitioner including the ethical considerations and obligations.
- Critically assess and interpret all financial, legal and commercial documentation involved in the insolvency process.
- Communicate this knowledge with the parties involved in the insolvency process.
- Analyse the financial, legal and commercial documentation involved in the insolvency process.
- Engage and negotiate with all parties involved in the insolvency process including creditors, debtors, the Insolvency Service of Ireland and the Courts of Ireland.
- Advise Debtors on all areas of insolvency.
- Provide Debtors with the required information.
- Aid Debtors in commencing and completing a personal insolvency arrangement.
The Insolvency Service of Ireland (ISI) is an independent government body set up to help tackle personal debt problems.
The ISI has three debt solutions that are alternatives to bankruptcy, and in fact must be explored before someone can seek to be made bankrupt. To administer these schemes the ISI has established a network of qualified professional advisors around the country who are there to provide advice on the options available to individuals. There are two types of professional advisors; PIPs (Personal Insolvency Practitioners) and AIs (Approved Intermediaries). Everyone providing these services have passed exams on personal debt and are regulated by the ISI. Many PIPs are also accountants, solicitors or qualified financial advisors.
The benefits of these solutions are that they ensure people have a reasonable standard of living (which is often higher than the amount they were trying to live on before seeking an insolvency solution), one of the terms of the arrangements means that creditors cannot make contact with you during the arrangement, and at the end of the agreed term any money still owed on unsecured debt like credit card debt and personal loans are completely written off. If the person has secured debt, like a mortgage, the PIP will make sure that the repayments are affordable.
If you or someone you know is struggling with debt, you are not alone. Take the first step to take back control of your finances, make an appointment with one of the growing network of PIPs throughout the country, or if your debt is less than €20,000 and you do not have a mortgage contact an AI. For more information about these solutions and to hear the stories of debtors who have availed of these solutions visit the website www.backontrack.ie or call 0761064200.
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